Nevertheless, the path the standard-setters have chosen is one where big swings in balance sheet and income statement numbers are inevitable. As a consequence, users of financial reports will need clear distinctions to be made between objective and subjective figures, between realised gains and losses, gains and losses based on real market process, and gains and losses based on hypothetical calculations.
Required:
Discuss how AASB 13 attempts to overcome these issues when providing information to users of financial reports.